Tata Consumer announces rights issue to raise up to Rs 3,000 cr at Rs 818 per share: Here are the key dates

The record date has been fixed on July 27, 2024, while the rights issue period will be between August 5 and August 19 of this year, the company statement said.

Tata Consumer's board on July 23 announced a rights issue worth Rs 3,000 crore at Rs 818 per share, the company announced in an exchange filing.

A total of 3,66,47,492 shares, aggregating up to Rs 2,997.77 crore, will be issued at a discount of 34.97 percent, the filing said.

On July 23, the stock of the company closed 4.42 percent higher at Rs 1,258 on NSE.

The record date has been fixed on July 27, 2024, while the rights issue period will begin on August 5 and end on August 19 of this year, the company statement said.

The owner of Tetley tea and Ching's Secret noodles brands had reported a net profit of Rs 217 crore in the March quarter, declining 19 percent from Rs 269 crore in the year-ago period.

Revenue jumped 8.5 percent to Rs 3,927 crore in the three-months period ended March 31, the firm had said in an exchange filing on April 23.